Safaricom Crosses $3 Billion in Revenue, Driven by Ethiopia Growth and Tech Shift
Safaricom Crosses $3 Billion in Revenue, Driven by Ethiopia Growth and Tech Shift
Safaricom Crosses $3 Billion in revenue making history and becoming the first company in the region to surpass $3 billion in annual revenue. The firm posted KES 388.7 billion in total revenue for the financial year ending 31 March 2025, up 11.2% year-on-year. Net income also rose 10.8% to KES 69.8 billion.
The strong results mark the end of a five-year strategy to transform the company from a traditional telecom operator into a purpose-led technology company. Over this period, Safaricom invested KES 18 billion in education, health, environment, and economic empowerment initiatives. These programs reached over 13 million people across Kenya and Ethiopia.
“We’ve delivered double-digit growth on both revenue and profit. That reflects the hard work of our teams, customer loyalty, and a focused strategy,” said CEO Dr. Peter Ndegwa.
Safaricom Crosses $3 Billion in Revenue, Driven by Ethiopia Growth and Tech Shift
The board approved a final dividend of 65 cents per share. Combined with an interim dividend of 55 cents already paid, shareholders will receive a total payout of KES 48.08 billion for the year.
Ethiopia Boosts Regional Footprint
Safaricom’s expansion into Ethiopia played a key role in this year’s performance. The company doubled its Ethiopian customer base to 8.8 million. M-PESA users in the market reached 2.4 million, transacting more than KES 20.6 billion during the year.
Ethiopia now contributes nearly 10% of group revenue. Management confirmed that the business has moved past its peak investment phase and expects to reach profitability by 2027.
Group earnings before interest and taxes rose 29.5% to KES 104.1 billion.
M-PESA and Mobile Data Drive Kenya Growth
In Kenya, service revenue grew 10.5% to KES 364.3 billion. M-PESA revenue increased 15.2% to KES 161.1 billion, contributing 44.2% of total service revenue. The platform’s growth came from expanded offerings in payments, credit, and wealth management.
Mobile data also performed well, rising 15.2% to KES 72.9 billion. The increase came from broader 4G use across the country. Voice revenue edged up by 1.6% to KES 80.8 billion, bucking global decline trends.
“These results give us a solid platform for our 2030 goal — to become Africa’s top purpose-led tech company,” said Dr. Ndegwa. “We’ll continue using innovation to create positive change in society.”
